Or maybe developers come to this thread and read what we are talking about.........

maybe also..just check the no of viewer for this Iskandar Malaysia thread, 609277 now,this thread now become the most viewed thread in this Countdown to 2020 forum. as for me, for all those plan/propose n launched highrise projects in jb city, when more than 50% from all of the projects have enter into tower crane constructions stage, then i can have some faith that most of the projects will be materialize.

MALAYSIAN Resources Corp Bhd (MRCB) said that the Government has agreed to make good on toll revenues foregone of MRCB's newly-completed wholly-owned Eastern Dispersal Link (EDL) in Johor, of which tolling did not commence on May 1 as scheduled.

To be paid from May 1, the amount will be calculated based on the actual traffic number (that is at about 60,000 to 61,000 vehicles per day at present), multiplied by the agreed toll rate (reported to be at RM6.20 for one-way).

This will be the temporary solution to the tolling issue of EDL (we understand that there is sufficient allocation to cover payments at least until December), pending a final decision by the Government.

The final decision could be, among others:

● The Government is to eventually give EDL the green light to carry out tolling in accordance with the terms of the concession agreement (at the agreed toll rate, and the agreed point of collection, namely the Custom and Immigration Complex in Johor Bahru); or

● The Government is to take over the toll road (but this raises the next question, namely pricing).

MRCB believes that the long awaited Rubber Research Institute (RRI) land redevelopment project may finally get off the ground in the second half of this year with the formal land acquisition by Kwasa Land, wholly-owned special purpose vehicle of the Employee's Provident Fund by this month, followed by the call for tender for infrastructure works and the parceling out of development land plots.

The group is eyeing many bites on the same cherry comprising contractor for Phase 1 infrastructure works worth about RM1bil; project manager for the entire development; and developer for land parcels.

MRCB's near-term earnings visibility is good on the back of strong construction and property profits. Construction profits will be underpinned by successful variation order claims that are likely to be reflected in the coming quarterly results and at least RM1bil worth of new construction jobs that are “within reach” this year.

The new jobs may come from, among others, its share of works from the RM1bil extension project for Duta-Ulu Kelang (DUKE) Expressway (MRCB owns a 30% stake in DUKE Expressway, with partner Ekovest holding the 70% controlling interest).

MRCB also spoke about the possibility of securing a sizeable Government job. The RM1bil new construction orderbook expectations actually exclude potential Klang Valley My Rapid Transit work packages

PETALING JAYA: Construction outfit Ireka Corp Bhd has received a letter of award for a RM268.6mil job in a mixed development in Johor Baru from UEM Land Bhd via its wholly-owned subsidiary Ireka Engineering & Construction Sdn Bhd.

In a filing to Bursa Malaysia, Ireka said the contract it won was for the construction of one block of five-storey serviced apartments, or 246 units, with five-storey car parks and recreational facilities and swimming pool; one block of 16-storey office tower with three-storey car parks; one block of single storey commercial block; and one level of car parking space at basement.

Ireka revealed that the contract came with a tenure of 24 months, commencing Aug 1, 2012. Completion date is set on July 31, 2014

PETALING JAYA: Construction outfit Ireka Corp Bhd has received a letter of award for a RM268.6mil job in a mixed development in Johor Baru from UEM Land Bhd via its wholly-owned subsidiary Ireka Engineering & Construction Sdn Bhd.

In a filing to Bursa Malaysia, Ireka said the contract it won was for the construction of one block of five-storey serviced apartments, or 246 units, with five-storey car parks and recreational facilities and swimming pool; one block of 16-storey office tower with three-storey car parks; one block of single storey commercial block; and one level of car parking space at basement.

Ireka revealed that the contract came with a tenure of 24 months, commencing Aug 1, 2012. Completion date is set on July 31, 2014

KUALA LUMPUR: The opening of several attractions in Johor is expected to improve tourists spend by a fourth and an average stay by at least two days.

If domestic tourism statistics in 2011 are anything to go by, the top five most frequented destinations in Johor are Tebrau, Gunung Ledang, Danga Bay, Plaza Angsana and Desaru.

All this could change when at least 11 new attractions are scheduled to open in the state. Six of these are being developed by companies under Khazanah Nasional Bhd.

Themed Attractions and Resorts (TAR) Malaysia for example, will open Hello Kitty Town, Little Big Club and Lat themed attraction in Puteri Harbour later this year.

In 2014, it will open Ocean Quest and Ocean Splash water parks in Desaru.

"The whole idea (of developing Johor) is to increase stays and spend to a more respectable level from now," Ahmad said, adding that the company hopes to see tourists stay a couple more days and spend 25 per cent more.

"Within the next five years, we would have made some kind of mark," he told Business Times in an interview.

"Once we have that, the attraction of that becomes much more. We are now starting from ground zero. Once we get more people to come, there will be more attractions and products," he said.

This, in turn will provide more reasons for people to go to Johor and stay there, he added.

Puteri Harbour is looking to attract 500,000 visitors in the first year of operations. It will target school groups.

About similar number of visitors are expected at Ocean Splash and Ocean Quest in the first year of operations. Both of the parks will open in 2014.

"At our Johor projects, we are looking at a 50-50 per cent split between local and foreign visitors," Ahmad said.

Meanwhile, Legoland, which is slated to open on September 15 this year, expects to bring in one million visitors in the first year.

TAR chief operating officer Steve Peet was quick to point out that it is very likely that the same visitor visits several parks during one trip. However, as they visit all the parks, they will stay longer and spend more.

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Maintain buy with target price of RM1.06: Ireka announced that its wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd has accepted a letter of award from UEM Land Holdings Bhd for the construction of a proposed mixed development project in Puteri Harbour, Iskandar Malaysia in Johor at a contract sum of RM268.6 million.

The project comprises: (i) one 35-storey block of serviced apartments (246 units) with a 5-storey car park and recreational facilities and swimming pool; (ii) one 16-storey office tower with a 3-storey car park; (iii) one single-storey commercial block; and (iv) a single-level car park in the basement.

The contract is for a period of 24 months, commencing on Aug 1, and completing on July 13, 2014. The management expects the project to contribute to group earnings from FY13.

The new contract is timely in view of the group's depleting outstanding construction order book, which stood at about RM240 million as at end-April 2012.

However, we are not adjusting our FY13 to FY15 forecasts as the new award is within the new contract wins we have assumed to enable the group to achieve forecast annual construction billings of about RM400 million per year.

In addition to new contract wins, we continue to look forward to significant profit contributions from the four property development projects (with an estimated total gross development value of RM1.4 billion) the group is working on, with two expected to commence in 2H12.

Ireka's share price has recovered some ground lately but is still trading at a low CY13 price earnings ratio of 5.4 times and 39% of our estimated revalued net asset value of RM1.76. We maintain our "buy" call. — Affin Investment Bank, June 19

Maintain buy with target price of RM1.06: Ireka announced that its wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd has accepted a letter of award from UEM Land Holdings Bhd for the construction of a proposed mixed development project in Puteri Harbour, Iskandar Malaysia in Johor at a contract sum of RM268.6 million.

The project comprises: (i) one 35-storey block of serviced apartments (246 units) with a 5-storey car park and recreational facilities and swimming pool; (ii) one 16-storey office tower with a 3-storey car park; (iii) one single-storey commercial block; and (iv) a single-level car park in the basement.

The contract is for a period of 24 months, commencing on Aug 1, and completing on July 13, 2014. The management expects the project to contribute to group earnings from FY13.

The new contract is timely in view of the group's depleting outstanding construction order book, which stood at about RM240 million as at end-April 2012.

However, we are not adjusting our FY13 to FY15 forecasts as the new award is within the new contract wins we have assumed to enable the group to achieve forecast annual construction billings of about RM400 million per year.

In addition to new contract wins, we continue to look forward to significant profit contributions from the four property development projects (with an estimated total gross development value of RM1.4 billion) the group is working on, with two expected to commence in 2H12.

Ireka's share price has recovered some ground lately but is still trading at a low CY13 price earnings ratio of 5.4 times and 39% of our estimated revalued net asset value of RM1.76. We maintain our "buy" call. — Affin Investment Bank, June 19